At the center of the scheme was admissions consultant William "Rick" Singer, founder of the Edge College & Career Network of Newport Beach, California, authorities said. Her husband, actor William H. Macy, has not been charged, though an Federal Bureau of Investigation agent stated in an affidavit that he was in the room when Huffman first heard the pitch from a scam insider.
Loughlin became famous as the wholesome Aunt Becky in the 1980s and '90s sitcom "Full House". She was finally released from custody late Tuesday, exiting the courthouse to throngs of reporters.
The publication also reports Huffman was aware the arrest was set to happen and was set to "surrender on her own, but the feds saw it differently".
"These parents are a catalogue of wealth and privilege", USA attorney Andrew Lelling said at a news conference.
The Emmy victor, 56, was among 46 wealthy folk whom the authorities said had resorted to fraud, bribes and lies to get their children admitted to elite colleges.
She is expected to appear in a Boston court on March 29 for a preliminary hearing.
Actresses Felicity Huffman and Lori Loughlin are among some 50 people charged in the massive scam to cheat on admission to elite USA universities that involved bribes, fraudulent test scores and even fake photographs.
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A magistrate judge said Tuesday that actress Felicity Huffman - the "Desperate Housewives" star - can be released on $250,000 bail in a case in which she is accused of paying a bribe to secure her daughter's admission to college, AP reported.
Court papers said a cooperating witness met with Ms Huffman and Macy at their Los Angeles home and explained to them that he "controlled" a testing centre and could have somebody secretly change her daughter's answers.
"This case is about the widening corruption of elite college admissions through the steady application of wealth combined with fraud", Lelling said Tuesday.
Loughlin and Giannulli are accused of paying half-a-million dollars to have their two daughters, who are not rowers, designated as recruits for the University of Southern California crew team.
Prosecutors said the scheme began in 2011 and also helped children get into the University of Texas, Georgetown University, Wake Forest University and the University of California, Los Angeles (UCLA).
Prosecutors said it was up to the universities to decide what to do with students admitted through cheating.
John Vandemoor, a former Stanford University sailing coach, is also scheduled to plead guilty to racketeering conspiracy charges.